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Major bank picks wealth management head as its new CEO
01/08/2014 , News Team

Canada's CIBC has selected Victor Dodig, head of wealth management, to succeed Gerry McCaughey as its new CEO.

Mr Dodig, who has run wealth management for the past three years, presided over acquisitions in the US for CIBC, including Atlantic Trust and a 41 percent investment in American Century.

He also oversaw growth in units such as CIBC Wood Gundy, CIBC Investor's Edge, CIBC Private Wealth Management, Atlantic Trust, and CIBC Asset Management. He headed retail banking for CIBC from 2007 to 2011.

CIBC chairman Charles Sirois said Mr Dodig has "a deep understanding of CIBC's strategy, culture and opportunities, and has demonstrated his ability to complement CIBC's organic growth plan with acquisitions and investments that align to the bank's risk profile." 

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